Lets start with the second material (remember that we are still inside our first blend material "base1"), all you have to do is to copy the material that you did ("deep blue") into the second material slot, just left click and hold from your material 1 to your material 2, then a window appears, select to make a copy.

We are going to edit the values for it so click on the material 2 button, and rename it to "dark hole". There the values that we are going to change are the following: Specular Level: 66, Glossiness: 38.
Click the difuse map button as on the left, and change the fall-off colours as on the right to: A) R:0, G:32, B:42 ; B) R:0, G:0, B:0

Click the go parent button, now go to the "maps" section of your material and change the next values: Bump: -70, Reflection: 100, then click the "go to parent" button again.
For the mask of this material we are going to use a "smoke" mask, so click the mask button and choose "smoke" from the window that appears and change the size value from 40 to 8.

CONGRATULATIONS! Thatís it for our first of 3 blend material we just have to animate this material to finish it. So lets go:

To do that go to the first frame of your time line and activate the "animate button" or "auto key" (max 5) into your material 1 (deep blue) options at the map panel find the bump map (smoke) and select it, here we are going to animate the "phase" value.

At the first frame we want it to be 0.1 after you change the value for it, move to your final frame at your time line and change the value to 3.0